News

DocAuthority Closes $10 Million Series A Funding Led by Raine Ventures

Company has developed world’s first AI-based data identification platform

Raanana, Israel, June 4, 2018 – DocAuthority, the data management company responsible for creating the world’s first AI-based data identification platform, today announced the completion of a $10 million Series A funding led by Raine Ventures and including investment by Greycroft, ffVC, Differential VC in the U.S., and 2B Angels and Plus Ventures in Israel. DocAuthority will use the financing to accelerate its growth, extend its reach into new markets and integration with key ecosystem partners.

“This is an important milestone for DocAuthority and we’re thrilled to receive the financial and strategic support of these prominent investors,” said Steve Abbott, CEO of DocAuthority. “DocAuthority enables organizations to manage data based on both risk profile and business value, offering a common language across an organization. Assigning data management policies, based on business category, easily aligns security controls with business usage of data.”

GDPR has made data protection and proper usage a top priority for many organizations. They are now tasked with quickly discovering their data and validating that protection policies are compliant. Recent large scale data breaches have also demonstrated the need for data management and protection. Automated data discovery, identification and classification have always represented major technology challenges, and insufficient accuracy levels have led to numerous failed data protection projects. DocAuthority’s proprietary technology solution BusinessID solves these problems as data management and protection initiatives only continue to grow.

According to Gartner analysts Douglass Laney, VP Distinguished Analyst, and Ankush Jain, “By 2020, more than 20% of organizational business plans will use infonomics to provide a financial analysis of data assets and liabilities.” 1

“DocAuthority’s revolutionary BusinessID technology is a new branch in data science, offering a novel take on AI that solves a major problem in data management and protection,” said Ariel Peled, Co-founder and CTO, DocAuthority. “With full automation and an accuracy level of 1:10,000, both business and security can agree and safely rely on policies for data classification, access management, DLP, encryption and as importantly, retention.”

According to Gartner analysts Marc Meunier, Research Director and Eric Ouellet, Research VP: “Data classification should not granularly label individual files; rather, it should create large categories of similar data and establish a core set of principles regarding the proper use, handling and applicability of various protection profiles for each category.” 2

“Now more than ever, companies need highly efficient and accurate data management solutions. We believe DocAuthority is unique in the industry and are big supporters of the team and their vision. We’re excited to work with them to bring their technology to more companies around the world,” said Blair Ford, Partner at Raine Ventures.

DocAuthority supports Saga with data protection and document managementSeptember 20 2018 – Saga, the company that specialises in providing exclusive services for the over 50s, is working with DocAuthority to help keep its customers’ data secure.

Saga prides itself on offering quality customer service, and a key part of its brand value is focused on protecting customer data assets. That is why the company decided to adopt DocAuthority’s technology, after growing data volumes led Saga to look for an advanced technical solution. With DocAuthority’s automated data loss prevention technology, which makes use of artificial intelligence (AI), Saga can now identify and categorise data according to its business functionality.

In today’s digital age, knowing what data you are storing and how to structure it can be a challenge. Prior to working with DocAuthority, Saga had a good understanding of the flow of structured data throughout the organisation but struggled with unstructured data. Now, not only has that gap been closed and extra protection is in place to ensure data is deleted when required, the risk of data leaking outside the organisation has also been reduced.

Paul Clements, Chief Information Officer at Saga, said: “Saga is incredibly diverse, and our old e- discovery solution was not flexible enough to meet our demands. DocAuthority enables us to identify and report in a very visual way so we can work with the business, focus on critical assets and ensure we have nailed data retention policy. It has also enabled us to search unstructured data and the ability to search what we could not see before.”

Steve Abbott, CEO of DocAuthority, said: “Businesses are aware that there is a problem with unstructured data, but they don’t have great visibility of what could help them fix it. For Saga, DocAuthority increases the accuracy with which data is determined, maximises time-efficiency and ensures that subject access requests can be more easily met. Our partnership with Saga enables it to have peace of mind over the business data it stores, helping it effectively identify and align its files with increased security.”

***About DocAuthority:
DocAuthority is a leading document control solutions company. It offers organisations a broad, yet business-friendly, security policy utilising AI to help automatically discover and accurately identify unstructured and unprotected sensitive documents to help prevent them from falling into the wrong hands. DocAuthority works with enterprise-size organisations in all sectors including the healthcare, retail, technology, energy, public sector, telcos, services and financial services sectors to help these businesses understand the risk they face and design an effective mitigation plan to improve the security of sensitive data. Founded by Ariel Peled and Itay Reved in 2013, DocAuthority is a global company headquartered in Raanana Israel and is managed by the people who pioneered DLP.

To learn more about DocAuthority, visit www.DocAuthority.com.

About Saga:

Saga specialises in the provision of products and services for life after 50. The Saga brand is one of the most recognised and trusted brands in the UK and is known for its high level of customer service and its high quality, award-winning products and services including cruises and holidays, insurance, personal finance and publishing. Visit saga.co.uk

DocAuthority Named a Cool Vendor in Information Management October 2018 – BusinessID™ technology rapidly, efficiently and accurately identifies business data on an organisation-wide basis

DocAuthority, a leader in data management and protection, today announces it has been included as one of five “Cool Vendors” in the September 2018 Cool Vendors in Information Innovation report* by Gartner.

Cool Vendors in Information Innovation identifies “up-and-coming providers of ‘data marketplaces’ that help data and analytics leaders monetize their own, and others’ information assets as well as other solutions that evaluate, categorise and align data, content and algorithms to business processes, risks and value.”

Gartner added that, “When information is catalogued, classified and prioritised, organisations can more quickly and confidently establish access rights, and other policies, and prepare for and demonstrate regulatory compliance to data management, especially the GDPR (General Data Protection Regulationand others related to PII).

“Also, information architects can improve the design of information flows, life cycles and storage platforms to improve the protection and reduce the chance of sensitive information leakages,” the Gartner report continues.

“We are thrilled to be named in this report by Gartner,” says Steve Abbott, CEO of DocAuthority. “Businesses cannot leverage, or secure, sensitive information that they cannot see, or that they don’t even know exists. There is a desperate need for technology that can discover and automatically, accurately and rapidly categorise business files and documents, for a business to meet the challenges contemporary businesses face. We believe our inclusion in this report underlines this business requirement and the overall importance of data identification.”

The full September 2018 Cool Vendors in Information Innovation report can be accessed here: https://bit.ly/2zJcqoU

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Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

NOTE: This document, while intended to inform our clients about the current data privacy and security challenges experienced by IT companies in the global marketplace, is in no way intended to provide legal advice or to endorse a specific course of action.

About DocAuthority:
DocAuthority is a leading document control solutions company. It offers organisations a broad, yet business-friendly, security policy utilising AI to help automatically discover and accurately identify unstructured and unprotected sensitive documents to help prevent them from falling into the wrong hands. DocAuthority works with enterprise-size organisations in all sectors including the healthcare, retail, technology, energy, public sector, telcos, services and financial services sectors to help these businesses understand the risk they face and design an effective mitigation plan to improve the security of sensitive data. Founded by Ariel Peled and Itay Reved in 2013, DocAuthority is a global company headquartered in Raanana Israel and is managed by the people who pioneered DLP.

About Us

The explosion of data is a huge problem for organizations. Now with GDPR-like regulations coming into place, company data is now also a massive compliance risk. DocAuthority enables you to turn these compliance requirements into business opportunities and use them to dramatically improve all aspects of unstructured data usage, management and governance. DocAuthority’s revolutionary and patented AI engine quickly and efficiently identifies and creates an inventory of all of your business data with the precision of 99.99%. With ease, you can now accurately identify both data’s risk and its value and automate its ongoing classification, protection and retention while improving accessibility and quality.